New Issue: UBS sells $1.1 million airbag yield optimization notes on Royal Caribbean

By Sarah Lizee

Olympia, Wash., May 11 – UBS AG, London Branch priced $1.1 million of 22.06% annualized airbag yield optimization notes due May 12, 2021 linked to the common stock of Royal Caribbean Cruises Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be an amount in cash equal to (a) the final share price times (b) $1,000 divided by the conversion price. The conversion price is 60% of the initial share price.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Airbag yield optimization notes
Underlying stock:	Royal Caribbean Cruises Ltd. (Symbol: RCL)
Amount:	$1.1 million
Maturity:	May 12, 2021
Coupon:	22.06% annualized, payable monthly
Price:	Par
Payout at maturity:	If final share price is less than conversion price, amount in cash equal to (a) the final share price times (b) $1,000 divided by the conversion price; otherwise, par
Initial share price:	$38.03
Conversion price:	$22.82, 60% of initial price
Pricing date:	May 7
Settlement date:	May 11
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1.95%
Cusip:	90289J200

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